SARs residents surge into Zhuhai’s property market

Cranes operate at a residential construction site in the Gongbei district of Zhuha

Zhuhai has made 34 land transactions in the first half of 2016 in to an enclosing area of approximately 2,303,400 square meters. This represents an increase of 24.59 percent year-on-­year. The land turnover was approximately RMB8.075 billion, according to a report by Southern Metropolis Daily.
On average, the price per square meter in the whole city reached RMB16,432 in June, ranking ninth most expensive in mainland China.
The most expensive properties in the city are located in the Jinwan district (part of the west district). According to a report by Herogoo International, a real estate consultation company from Zhuhai, the Jinwan district alone saw 3,892 units sold in the first half of this year, which corresponds to an 80 percent growth compared to the same period last year. The average price per square meter sits at RMB 14,057, also a significant jump of 70 percent.
Zhuhai Housing, Urban and Rural Planning Construction Bureau (ZHZGJ) revealed that the most expensive land was sold for one billion RMB at the Jinwan district, wherein 11 residences will be built, each comprising 34 stories.
The Herogoo International report pointed out that the Jinwan district has been attracting a large number of investors from mainland China, as many of them are charmed by the proximity to Hong Kong, Macau and Zhuhai. The report also revealed that also in the Jinwan district, residents of Macau and Hong Kong also constitute the largest source of customers, in addition to other investors from the Pearl Delta River regions.
Earlier this year, Zhuhai lifted all home purchasing restrictions on house units for both residents and non-­residents Now, anyone is allowed to buy residences of less than 144 square meters without providing social security and tax payment proofs. Staff reporter